Brokerages Anticipate PACCAR Inc. (PCAR) to Post $1.08 Earnings Per Share
Equities analysts expect that PACCAR Inc. (NASDAQ:PCAR) will report earnings of $1.08 per share for the current quarter, according to Zacks. Six analysts have issued estimates for PACCAR’s earnings. The lowest EPS estimate is $1.06 and the highest is $1.13. PACCAR posted earnings per share of $0.98 during the same quarter last year, which would indicate a positive year over year growth rate of 10.2%. The firm is scheduled to announce its next quarterly earnings report before the market opens on Tuesday, October 24th.
On average, analysts expect that PACCAR will report full-year earnings of $4.03 per share for the current financial year, with EPS estimates ranging from $3.78 to $4.21. For the next financial year, analysts expect that the company will report earnings of $4.52 per share, with EPS estimates ranging from $4.22 to $4.86. Zacks Investment Research’s EPS averages are a mean average based on a survey of analysts that that provide coverage for PACCAR.
PACCAR (NASDAQ:PCAR) last issued its earnings results on Tuesday, July 25th. The company reported $1.06 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.99 by $0.07. The company had revenue of $4.40 billion during the quarter, compared to analysts’ expectations of $4.29 billion. PACCAR had a return on equity of 18.61% and a net margin of 7.77%. The firm’s quarterly revenue was up 6.9% on a year-over-year basis. During the same period in the prior year, the business earned $1.06 EPS.
Several equities analysts recently commented on PCAR shares. Zacks Investment Research upgraded PACCAR from a “hold” rating to a “buy” rating and set a $71.00 target price for the company in a research note on Tuesday, August 22nd. UBS AG reiterated a “buy” rating and issued a $76.00 target price (up from $75.00) on shares of PACCAR in a research note on Wednesday, July 26th. Citigroup Inc. upped their target price on PACCAR from $74.00 to $78.00 and gave the company a “buy” rating in a research note on Wednesday, July 26th. Stifel Nicolaus reiterated a “buy” rating and issued a $72.00 target price (up from $64.00) on shares of PACCAR in a research note on Wednesday, July 26th. Finally, BidaskClub upgraded PACCAR from a “hold” rating to a “buy” rating in a research note on Tuesday, August 8th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating and eleven have given a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $75.84.
Shares of PACCAR (NASDAQ PCAR) traded up 1.56% during mid-day trading on Friday, reaching $74.92. The company’s stock had a trading volume of 2,192,212 shares. PACCAR has a 1-year low of $53.38 and a 1-year high of $75.13. The company’s 50-day moving average is $71.21 and its 200 day moving average is $67.00. The firm has a market capitalization of $26.33 billion, a P/E ratio of 20.05 and a beta of 1.18.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 5th. Investors of record on Tuesday, November 14th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.33%. The ex-dividend date of this dividend is Monday, November 13th. PACCAR’s dividend payout ratio is currently 26.74%.
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In related news, insider T. Kyle Quinn sold 2,786 shares of the stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $67.89, for a total value of $189,141.54. Following the completion of the transaction, the insider now owns 20,800 shares of the company’s stock, valued at $1,412,112. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 2.64% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the business. IFP Advisors Inc raised its stake in PACCAR by 91.1% during the second quarter. IFP Advisors Inc now owns 1,867 shares of the company’s stock valued at $123,000 after buying an additional 890 shares in the last quarter. FUKOKU MUTUAL LIFE INSURANCE Co raised its stake in PACCAR by 18.8% during the second quarter. FUKOKU MUTUAL LIFE INSURANCE Co now owns 1,900 shares of the company’s stock valued at $125,000 after buying an additional 300 shares in the last quarter. State of Alaska Department of Revenue raised its stake in PACCAR by 29.9% during the second quarter. State of Alaska Department of Revenue now owns 2,175 shares of the company’s stock valued at $143,000 after buying an additional 500 shares in the last quarter. Perkins Coie Trust Co raised its stake in PACCAR by 102.8% during the second quarter. Perkins Coie Trust Co now owns 2,282 shares of the company’s stock valued at $151,000 after buying an additional 1,157 shares in the last quarter. Finally, Sun Life Financial INC raised its stake in PACCAR by 19,884.6% during the second quarter. Sun Life Financial INC now owns 2,598 shares of the company’s stock valued at $172,000 after buying an additional 2,585 shares in the last quarter. Hedge funds and other institutional investors own 62.13% of the company’s stock.
PACCAR Inc (PACCAR) is a technology company. The Company’s segments include Truck, Parts and Financial Services. The Truck segment includes the design, manufacture and distribution of light-, medium- and heavy-duty commercial trucks. The Company’s trucks are marketed under the Kenworth, Peterbilt and DAF nameplates.
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